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Wednesday, June 19, 2024

Switzerland grants CHF5 million to support Vietnam’s export promotion

The Saigon Times

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HCMC – The Swiss Government will provide Vietnam with CHF5 million in non-refundable aid to help the country improve its trade policy and export promotion.

The agreement to implement the Trade Policy and Export Promotion (SwissTrade) project was signed by the Vietnamese Ministry of Industry and Trade and the Swiss State Secretariat for Economic Affairs on October 22.

It is aimed at improving the efficiency of trade activities and global competitiveness of small and medium-sized enterprises (SMEs) in Vietnam via enhancing framework conditions for trade, improving the public-private dialogue mechanism and building an ecological system for trade promotion.

The project will be implemented from 2021-2024, with a budget of CHF5.672 million, including CHF5 million provided by the Swiss Government and the remainder from the Vietnamese Government and policy beneficiaries.

The SwissTrade project will offer technical assistance to the Ministry of Industry and Trade in shaping the key directions for the import-export development strategy of Vietnam in the next 10 years.

It will also offer support to the ministry to establish public-private dialogue mechanisms to further the exchange between the private sector and the national authorities on trade policies, trade facilitation and trade promotion, and strengthen the capacity of business-support organizations in delivering export promotion services to SMEs to improve their competitiveness and participation in global value chains.

Particular attention will be paid to the impact of the Covid-19 pandemic and the promotion of digitization for Vietnamese SMEs.

Addressing the signing ceremony, Swiss Ambassador to Vietnam Ivo Sieber said, “With this project, Switzerland continues its longstanding cooperation in trade development with Vietnam. It will help strengthen the competitiveness of SMEs and support a more performing, sustainable and inclusive trade development in Vietnam.”

Vietnamese Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said the project marks an important milestone in celebrating the 50th anniversary of Vietnam-Switzerland ties and 30 years of bilateral economic and technical cooperation, contributing to their commitments to Vietnam’s sustainable socioeconomic development.

SwissTrade is a flagship project of Switzerland’s economic development cooperation. The new Cooperation Program for the 2021-2024 period, being executed by the Swiss State Secretariat for Economic Affairs, is aimed at supporting Vietnam in achieving market-based, sustainable growth. 

It is focused on promoting market-oriented and reliable economic framework conditions, and on enhancing the private sector’s competitiveness and market access.

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